INDUSTRY INSIGHT
ELDER CARE
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NOT ALL ATTORNEYS ARE CREATED EQUAL : REASONS WHY YOU NEED AN ELDER LAW ATTORNEY
It probably doesn ’ t surprise you that not all estate planning attorneys are created equal , nor are their documents and approach to planning . Whenever we meet people in the community , we describe elder law attorneys as estate planning attorneys on steroids . In other words , we have the added knowledge and experience to address unforeseen risks to your estate associated with aging . Our skill set enables us to engage in planning to minimize taxes and also plan for minor children , grandchildren , disabled heirs , blended families , drug addiction , etc . We also have an understanding of specific rules and available benefits that take our planning to the next level for disability , veterans benefits , long-term care , and asset exposure . These differences are extremely important as demonstrated in the example below .
George and Mimi ask their trusted advisor to refer an attorney to discuss their estate plan . They ’ re getting older , their children are grown , and George and Mimi believe it ’ s time to revisit their 20-year-old estate plan . Their advisor pulls up contact information for her friendly estate planning attorney , helps to facilitate the meeting with George and Mimi , and provides all pertinent financial information to help with planning . George and Mimi now have revised their estate plan with wills , durable powers of attorney , durable health care powers of attorney ,
THERE ARE ENOUGH WORRIES IN LIFE …
CHOOSING THE RIGHT ELDER LAW FIRM SHOULD NOT BE ONE OF THEM
Over 25 years of helping families and their loved o n e s s e c u r e a n d p a y f o r quality care .
E x c e l l e n t C l i e n t S a t i s f a c t i o n 5 S t a r G o o g l e R a t i n g s Our experience speaks for itself .
111 W . McMurray Rd . McMurray , PA 15317 ( 724 ) 942-6200 living wills , and possibly a revocable living trust , all in a fancy binder ! George and Mimi feel that it was worth the $ 2,500 they spent on the plan . What could possibly go wrong ? Here is a view of this plan from an elder law attorney ’ s perspective .
First , the estate planning attorney did not take into consideration that George was diagnosed with Parkinson ’ s disease two years ago and has recently begun displaying forgetfulness that they attribute to growing older . The estate planning attorney also has no real knowledge of complex longterm care planning strategies that could be employed to protect assets and assumes that there isn ’ t much else to be done . She ’ s heard of “ the five-year look-back ,” knows that Medicaid has some role in long-term care , but also thinks that Medicaid requires you to be broke .
If a Zacharia Brown attorney was presented with this identical scenario , our guidance would be based upon an understanding that Parkinson ’ s is a progressive neurological disease that can significantly impair movement , and nearly 70 percent of those diagnosed with Parkinson ’ s will develop dementia as the disease progresses . We know that families struggle with this illness for many years and often get to a point of being unable to meet the needs of their loved ones at home . As the disease progresses , admission to a nursing home is often , ultimately , the only choice .
Because of this knowledge , we know it is imperative to discuss the following matters with George and Mimi : 1 . The average cost of nursing home care in Pennsylvania exceeds $ 14,000 per month ; 2 . Medicare and other health insurance plans play a very limited role in covering nursing home costs ; 3 . Medicaid is the primary payor of long-term care . You can even be a millionaire and your spouse can qualify for Medicaid ; 4 . The five-year lookback ; 5 . Available care options and benefits ; 6 . The exposure and risk to their assets if nursing home care becomes necessary ; and 7 . The need for an effective elder-focused estate plan that will accomplish their estate planning goals , offer protection to their estate and leave them prepared to deal with long-term care issues should they arise . This “ Elder Law Planning ” can be the difference between protecting your assets vs . the complete exposure and consumption of the assets that you have worked a lifetime accumulating .
It is critically important to understand that if you work with the attorneys at Zacharia Brown , you will be able to optimally navigate the interplay between estate planning and the medical , financial and emotional decision-making of long-term health care needs .
Christine Brown Murphy is a partner of Zacharia Brown PC , which is an Elder Law and Estate Planning firm . The firm focuses its practice on Medicaid eligibility , veterans benefits planning , estate administration , and estate planning including wills , powers of attorney , living wills , and trusts . Pittsburgharea office locations include McMurray , McKeesport and Wexford . Contact information – Phone : 724.942.6200 Website : pittsburghelderlaw . com E-mail : christine @ pittsburghelderlaw . com
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